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ABP REPORTS RECORD SALES AND EARNINGS FOR SECOND QUARTER AND SIX MONTHS

ABP REPORTS RECORD SALES AND EARNINGS FOR SECOND QUARTER AND SIX MONTHS
 ATLANTA, July 21 /PRNewswire/ -- American Business Products, Inc. (NYSE: ABP) today reported record sales and earnings for both the second quarter and the first half of 1992.
 Sales for the quarter were up almost 5 percent, and profits increased 87 percent including non-recurring items, principally a gain on the sale of real estate.
 "These results reflect the strong efforts of all our companies to achieve growth and the continuing excellent performance of our specialty companies, particularly those producing specialty envelopes and extrusion coating for packaging, and also our European joint venture," said Thomas R. Carmody, president and chief executive officer of ABP. "Throughout the recession of the past two years, our people have consistently achieved quarterly year-to-year sales and profit increases. Although we are cautiously optimistic, based on the current sluggish nature of the recovery we expect the performance of our major product lines for the balance of the year to be closely tied to the performance of the economy."
 For the three months ended June 30, sales advanced 4.6 percent to $113.2 million compared to $108.3 million for the first quarter 1991. Net income, including a non-recurring gain of $2.9 million, increased 87 percent to $6.7 million, compared to $3.6 million for the first quarter last year. Earnings per share rose 91 percent to $.63 compared to $.33 for 1991. As previously reported, the extraordinary income of $2.9 million, or $.27 per share, resulted from the sale of real estate owned by the company as previously reported.
 "As we announced on May 1, the sale of land under our headquarters building resulted from renegotiating our space lease which was contingent on the sale of the property," Carmody said. "In negotiations, we also reduced our lease costs."
 For the first half, sales increased 5.5 percent to $232.0 million compared to $219.9 million for the corresponding 1991 period. Net income for the six months advanced 52 percent to $11.3 million, including the non-recurring gain, compared to $7.5 million for first half 1991. Earnings per share for the half increased to $1.06, including $.27 of non-recurring gain, up 51.4 percent over $.70 per share for first half 1991.
 ABP's operating companies and products and services are Curtis 1000 Inc., envelopes, labels and business forms; Vanier Business Forms & Services, business forms; BookCrafters USA, Inc., book printing and distributing; American Fiber-Velope Mfg. Co., specialty envelopes and filing systems; and Jen-Coat, Inc., specialty extrusion coating and laminating of packaging. ABP is a joint venture partner in Curtis 1000 Europe GmbH, which produces and markets envelopes in Europe with facilities in Germany, England and Luxembourg.
 AMERICAN BUSINESS PRODUCTS, INC.
 (Unaudited)
 3 mos. ended June 30 1992 1991
 Net sales $113,228,000 $108,249,000
 Income before income taxes 10,585,000 5,723,000
 Provision for income taxes 3,873,000 2,140,000
 Net income 6,712,000 3,583,000
 Earnings per common share .63 .33
 Avg. number of common shares outst. 10,698,849 10,666,707
 6 mos. ended June 30 1992 1991
 Net sales $232,000,000 $219,908,000
 Income before income taxes 18,025,000 12,028,000
 Provision for income taxes 6,688,000 4,566,000
 Net income 11,337,000 7,462,000
 Earnings per common share 1.06 .70
 Avg. number of common shares outst. 10,692,494 10,661,672
 Per share amounts and average number of common shares outstanding have been adjusted to reflect a 3-for-2 stock split effective December 1991.
 -0- 7/21/92
 /CONTACT: T.R. Carmody, president and chief executive officer of American Business Products, 404-953-8300/
 (ABP) CO: American Business Products, Inc. ST: Georgia IN: SU: ERN


EA-BN -- AT011 -- 1362 07/21/92 12:55 EDT
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Date:Jul 21, 1992
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